In the United States, we mostly call it Disability Income Insurance but in Europe and other countries it is called Income Protection Insurance. Even though Workman’s Comp will pay you a percentage of your pay if an on-the-job injury keeps you from working, an accident or illness outside the job will not cover you unless you are insured by your own personal policy. This Income Protection Insurance pays in addition to other coverage and may also cover periods of unemployment so you can better h andle your basic monthly bills.

We’ve all seen the duck offering us cash in h and to pay the bills, buy food and everything else we may need if we are sick or injured and can’t work for a paycheck, but how easy is it to get this type of insurance?

The application may appear to be overwhelming but just answer each question in turn. The mistake often made is to not answer fully thinking this information is not confidential. It is. Your answers become the basis for payment when the time comes that you need to collect so answer in too much detail. Ask your agent when you are stymied.

Give a detailed description of what doing your job entails. Mail room clerk can mean you sit and sort mail into slots or you not only sort the mail but you h and-deliver it to departments on each of the 20 floors and take outgoing mail to the Post Office. So if you broke a leg, can you still do your job? More detail is better.

Whether you call it Disability Income Insurance or Income Protection Insurance, unless you have at least 3-6 months of bill payments sitting in the bank, you should think of having one. Quack, quack.

In the last decade the world has seen the worst economic downturn in world history. As a result, more nad more people have lost their homes, their cars, and more employees have been laid off.

In these times of trouble and uncertaintiy, it is essential that you have peace of mind when it comes to your income and quality of life for your family.

If you work with your h ands or outdoors, it is possible that you may get sick or injured. In this unfortunate event, you may begin struggling to pay the bills. Imagine if all of a sudden you could no longer pay your bills. How long would you be able to make payments? How long would it be before you defaulted? The answer most people is unfortunately much sooner than they woud like.

It is times like these that make investing in an income protection policy. In the event of an ilness or injury you will be reinbursed by your tailored plan.

Income protection insurance has numerous advantages. Payments are payable as soon as a policyholder becomes incapacitated. Benefits are also paid regulary on a weekly or monthly basis, and are tax-free. Income insurance is also very secure as a insurance comapny can not cancel a policy as long as the policyholder pays the premium.